SK Telecom (NYSE:SKM) Stock Rating Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of SK Telecom (NYSE:SKM) from a buy rating to a hold rating in a research report sent to investors on Saturday morning,Wall Street Zen reports.

Other equities analysts have also issued research reports about the stock. JPMorgan Chase & Co. upgraded shares of SK Telecom from a “neutral” rating to an “overweight” rating in a research report on Thursday, July 16th. Weiss Ratings raised shares of SK Telecom from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, August 13th. Finally, Zacks Research raised shares of SK Telecom from a “strong sell” rating to a “hold” rating in a research report on Monday, October 12th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, SK Telecom presently has a consensus rating of “Reduce”.

SK Telecom Stock Up 6.0%

Shares of NYSE SKM opened at $31.18 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.22. The stock has a market capitalization of $11.96 billion, a PE ratio of 11.25 and a beta of 0.78. SK Telecom has a one year low of $19.66 and a one year high of $47.18. The business’s fifty day moving average price is $34.52 and its 200-day moving average price is $33.95.

SK Telecom (NYSE:SKM) last announced its quarterly earnings data on Wednesday, November 4th. The Wireless communications provider reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.07. SK Telecom had a return on equity of 9.26% and a net margin of 7.49%. The company had revenue of $3.31 billion during the quarter, compared to analyst estimates of $3.27 billion. On average, equities research analysts anticipate that SK Telecom will post 3.90 EPS for the current year.

Institutional Trading of SK Telecom

A number of institutional investors have recently added to or reduced their stakes in SKM. Allworth Financial LP grew its holdings in SK Telecom by 29.8% during the 3rd quarter. Allworth Financial LP now owns 6,475 shares of the Wireless communications provider’s stock valued at $208,000 after buying an additional 1,485 shares in the last quarter. Eurizon Capital SGR S.p.A. increased its position in shares of SK Telecom by 44.0% during the third quarter. Eurizon Capital SGR S.p.A. now owns 7,473 shares of the Wireless communications provider’s stock valued at $269,000 after buying an additional 2,285 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of SK Telecom by 1.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 512,970 shares of the Wireless communications provider’s stock worth $18,257,000 after buying an additional 5,855 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in shares of SK Telecom by 13.7% in the third quarter. Commonwealth Equity Services LLC now owns 11,971 shares of the Wireless communications provider’s stock worth $418,000 after buying an additional 1,440 shares in the last quarter. Finally, Trek Financial LLC purchased a new stake in shares of SK Telecom in the third quarter worth about $270,000.

About SK Telecom

SK Telecom is a South Korean telecommunications company that provides mobile voice and data services, including 5G connectivity, to consumers and businesses. Its offerings also include internet of things and enterprise connectivity solutions.

Through its subsidiary SK Broadband, the company provides fixed-line broadband and IPTV services, including its B tv platform. SK Telecom is also developing artificial intelligence services and infrastructure, alongside data center and cloud-related offerings.

Headquartered in Seoul, SK Telecom traces its roots to Korea Mobile Telecommunications Services, established in 1984.